Gordian Advisors LLC Invests $373,000 in Intuit Inc. (NASDAQ:INTU)

Gordian Advisors LLC acquired a new position in shares of Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 600 shares of the software maker’s stock, valued at approximately $373,000. Intuit accounts for about 0.3% of Gordian Advisors LLC’s portfolio, making the stock its 24th largest position.

A number of other institutional investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. increased its stake in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of Intuit by 14.5% in the third quarter. Catalina Capital Group LLC now owns 946 shares of the software maker’s stock valued at $587,000 after acquiring an additional 120 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Intuit by 36.1% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after purchasing an additional 177 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in Intuit by 5.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 90 shares during the last quarter. Finally, Pittenger & Anderson Inc. lifted its holdings in Intuit by 20.1% in the 3rd quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock valued at $2,323,000 after purchasing an additional 625 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

NASDAQ:INTU traded up $35.66 during trading hours on Wednesday, reaching $654.49. 439,162 shares of the company’s stock were exchanged, compared to its average volume of 1,313,531. The company has a market capitalization of $183.45 billion, a P/E ratio of 59.22, a price-to-earnings-growth ratio of 3.04 and a beta of 1.25. Intuit Inc. has a 12 month low of $506.97 and a 12 month high of $676.62. The business’s 50-day simple moving average is $622.80 and its two-hundred day simple moving average is $626.81. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 39.81%.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.